Bitcoin: Megaphone Pattern Retest Begins

Bitcoin completed an ascending triangle breakout then formed a megaphone pattern on the daily chart and now retests the upper flipped support, according to trader @TATrader_Alan.

Price sits at $84411.75 inside the Bollinger band with upper resistance at $84901.06 and lower support at $83712.52. The 50-EMA at $83504.51 and 200-EMA at $78672.65 remain key long-term supports while RSI(14) at 51.72 stays neutral and MACD shows a bearish death cross at 168.96. With price testing upper Bollinger resistance while RSI flashes neutral, a healthy retracement to the 50-EMA support at $83504.51 seems probable before further continuation. Traders tracking BTC price prediction models also watch for any spillover into broader crypto market crash scenarios or AI industry impact on risk assets.